TOKYO Aug 1 A consortium led by Sumitomo Mitsui
Banking Corp (SMBC) is in exclusive talks to buy elderly care
facilities and other healthcare assets in Japan from investment
firm Orion Partners in a deal valued at over 50 billion yen
($486 million), a person with the knowledge of the matter said.
The consortium obtained the exclusive right to negotiate
with Hong Kong-based Orion Partners buy the assets, which are
made up of about 20 facilities, said the person, who spoke on
condition of anonymity because he was not authorised to discuss
the matter publicly.
Officials at SMBC and Orion Partners were not immediately
available for comment.
In October, SMBC, the main banking unit of Tokyo-based
Sumitomo Mitsui Financial Group, said it set up an
asset holding company with NEC Capital Solutions and Ship
Healthcare Holdings in preparation to launch a healthcare REIT,
which invests in elderly care homes and medical malls.
Daiwa Securities Group Inc and a group led by
Shinsei Bank Ltd and Kenedix Inc have also
announced plans to launch similar REITs. Currently, fast-ageing
Japan has no listed REITs that focus on healthcare facilities
($1 = 102.9100 Japanese Yen)
(Reporting by Taiga Uranaka; Editing by Chris Gallagher)